Mammoth third quarter losses for both GM and Ford were reported recently and we are told that a major restructuring is in the works.   In conjunction with that let me offer some thoughts on restructuring that I think are shared by many in our nation.
 
First of all, it might be interesting to discover how the automotive executives traveled to Washington, DC for their recent bailout meeting.  Did they each fly on their private jets or opt for coach fare?  Any reason they could not have gone on one plane? 
 
Yes, I know some will argue that if a plane goes down we would lose the brain trust of three companies. But that is a weak argument as far as I am concerned. 
 
Doesn’t each company have a succession plan in place and if not, why not!
 
And why do we continue to pay bonuses and extravagant salaries to these captains of industry?  The argument is that companies need to retain these talented individuals otherwise they will bolt to the competition. 
 
Well, if these all-knowing mega-minds are that talented, why are their companies flirting with bankruptcy?  Strategically it might be a good move to let them flee to the competition since their lackluster track record might just have a similar effect there and thus trim the number of competitors for Ford and GM.
 
Here’s another question. Does Ford chief executive Alan Mulally’s family still fly free on the corporate plane? According to an earlier Ford Proxy, Mulally is required to use company aircraft for all business and personal air travel for security reasons, and that his family and guests were allowed to accompany him on the aircraft. 
 
And how about when Ford Vice President for the Americas Mark Field was flying home to Florida on weekends via the company jet.  The outcry from the public was such that it was discontinued.  But perks for those in the ivory tower seem to be the norm even when those in the trenches are moments away from going on life support units for survival!
 
And here’s a thought -  how about William Clay Ford selling the Detroit Lions for some additional cash flow?  Everyone knows that the franchise is the Edsel of football teams.  Two TV black outs in a row should send a strong message that fans won’t buy an inferior product!  And that goes for automobiles also!
 
These are obviously small expenses when compared with the overall budget but it demonstrates an executive mindset, which keeps them out of touch with the average worker.  
 
These guys need to hang out with us, the unwashed, more often so that they can gain an appreciation of how people are struggling.  Soaring through the skies being pampered in a private plane tends to make one lose focus of what is happening on the ground!
 
And while I’m on the subject of cutbacks, have you noticed now that gas is selling below $2 a gallon there has not been a similar reduction in supermarket prices or airline pillows, beverages, or baggage fees? 

The airlines are still charging for checked baggage and making every effort to discourage carry-ons by lowering size requirements. 
 
One might suggest that there is some lag time between fuel reductions and the resulting price constriction in other commodities but I would rather attribute it to bold-faced greed! 
 
Yes, our country is in the throes of an economic tsunami and no one has an answer for a course correction. 
 
Maybe we should just emulate rodeo bull riders who consider it a success if they can stay mounted for eight seconds on their crazed steed.   For ourselves; we are just hoping for a reappearance of the bull.